Revlon chief executive exits; interim CEO appointed

October 2nd, 2013

NEW YORK – David Kennedy has been named interim chief executive officer at Revlon Inc. with the departure of CEO Alan Ennis.

Revlon said Wednesday that Ennis is leaving the cosmetics and beauty care giant to pursue other interests. According to the company, Kennedy's appointment is effective immediately and the appointment of a permanent CEO is expected in the near term.

Kennedy, 66, who is also Revlon's vice chairman, served as a senior executive of Revlon from 2002 to 2009, including as president and CEO from 2006 to 2009.

"This is an exciting time for Revlon, which has enjoyed impressive growth, profitability and financial results which have enabled the transformative acquisition of The Colomer Group, including the Revlon Professional business (expected to close later this month), and the prior acquisitions of Pure Ice and SinfulColors," stated Ronald Perelman, chairman of Revlon. "We believe David is the perfect choice to guide the company in the interim period through its integration of The Colomer Group, including the Revlon Professional business, and the significant growth and profit opportunities presented by this acquisition. Alan has done a terrific job at Revlon, and we appreciate Alan's contributions and wish him continued success."

"I've greatly enjoyed my tenure at Revlon, and I am proud of the results we have delivered," Ennis commented. "I believe we've laid a strong foundation for continued profitable growth and the ability to reap the full benefits of the impending acquisition of The Colomer Group, including the Revlon Professional business. However, I have come to the decision that it is best for me at this time to pursue other interests."